Dozens of U.S. banks will fail by 2010: analyst

Reuters ^ | Feb 1, 2008 | Jonathan Stempel

[CzarNicky]

My prediction is that in 2010 there will be a headline stating “Experts Surprised by...”

[DaveArk]

Yes and shortly after taking office, even though he had promised to cut taxes, he announced the government was in bad shape and would need to raise taxes.

[grey_whiskers]

Try this article to make your blood boil.

Cheers!

[Rush4U]

The “article” goes to “my comments.” ;->

[RWB Patriot]

The link’s dead.

[Lonesome in Massachussets]

When Franklin National Bank in New York failed, (about the biggest bank to fail since the depression) around 1973 or so, it didn’t cost the taxpayers or the FDIC or big depositors a dime. Franklin National Bank closed Friday (and in the day before ATMs and weekend banking) opened on Monday as European-American Bank.

A German banking consortium took over the assets and liabilities “as is”. I can see a number of smaller banks being rolled up by the larger banks and cash rich foreigners buying up the failing larger banks. Banks actually hold very few direct mortgages, though they are invested in the paper of mortgage holding conglomerates. The idea was to diversify risk. But risk diversified became risk ignored, denied and hence the current mess.

[rb22982]

I read that Remittances were down sharply in the last 6 months of 2007 and wasn't expected to rebound. Overall though I do agree with what you said.

[Brian S. Fitzgerald]

links ok now

[Verloona Ti]

To what article are you trying to link? that just pulls up the my comments page.

[Larry Lucido]

When Gerard Cassidy talks, people ask, “Who the hell is Gerard Cassidy?”

[Starboard]

Like in ‘92 and 2004 when the pubs were the sitting presidents, MSM kept using “recession” and hyperinflation. I remember the day after the 92 elections when the Bubba & the RATS won the newspapers after months of failing economy talk wrote “the economy isn’t so bad after all.”

The homelessness issue also ceased to exist after the '92 election. Again, the MSM made this "problem" suddenly disappear.

[Freedom_Is_Not_Free]

What you said is true. I have to find a way to tune out the noise and stick to the kindred spirits, who I trust.

[TADSLOS]

Yep. I would thoroughly enjoy watching BoA sink under it’s own weight of uncollected illegal immigrant debt.

[grey_whiskers]

Try typing the link below into the URL of your browser:

http://www.businessweek.com/bwdaily/dnflash/content/feb2008/db2008026_105146.htm?campaign_id=yhoo

[RightWhale]

How does this compare to bank failures in average times?

[Rush4U]

Yup, okay, I've read this one and you are right...and it's enough for me with this "Bank."

[mowowie]

Dozens?

wow